And the buying spree for 2024 continues for Frasers Group. Its growing sports retail interests are about to get even bigger, especially in Africa, with the group having agreed to acquire South Africa’s country’s leading and substantial sporting, outdoor and recreation goods company, Holdsport Group.

As usual, the price paid for the business wasn’t divulged. The buy comes soon after last month’s acquisition of a “significant” stake in sport/fashion retailer and distributor Hudson Malta, which has operations across 36 African countries

Frasers described Holdsport as a diversified business operating across retail (88 stores), wholesale, manufacturing, distribution, and a “rapidly growing” e-digital business, across South Africa and Namibia. 

It’s also home to Sportsmans Warehouse, the elevated sporting goods chain in the region, Outdoor Warehouse, an outdoor, camping, hiking, adventure retailer “complementing Frasers Group’s existing divisions”, and Shelflife, South Africa’s premium sneaker and streetwear store. 

For Holdsport’s financial year ended February 2024, sales generated exceeded R3 billion (£130 million) “demonstrat[ing] exceptional financial performance, with robust profit growth and strong cash flow, underscoring its value to Frasers’ strategic vision”.

Holdsport also enjoys a “well-established relationships with major international brands, including Nike, adidas, Asics, Hoka, and Garmin, while supported by its own brand portfolio including First Ascent, Cape Storm and OTG.

“The acquisition aligns with Frasers Group’s plans to diversify its product range and geographic reach while leveraging Holdsport’s established market presence and local market expertise”.

And it includes Holdsport’s infrastructure, such as modern warehouses “with capacity for growth” and offices in Johannesburg and Cape Town, as well as a factory that supports local manufacturing and distribution.

Michael Murray, CEO of Frasers Group, said: “Holdsport has built an incredible brand and reputation across Southern Africa, and we see potential in combining their regional expertise and own brands with our scale and resources, establishing a strong platform for growth.

“This acquisition is a great step forward for us, not only in expanding our footprint but also in enhancing our ability to meet the rising demand for high-quality sporting goods in a region with such dynamic growth.

“Jacci Myburgh and Chumani Kula, co-heads of previous co-owner Old Mutual Private Equity, added: “Holdsport is an iconic South African business that has been well loved and regularly supported by many South African households over the years. We are proud to have been the custodian of such a strong business, with a great platform, offering well-known local and international brands.

“The acquisition by Frasers… is a testament to the quality of the Holdsport offering and demonstrates confidence in the South African economy.”

Frasers said the transaction, which is subject to customary regulatory approvals, is expected to close in the coming months.